It is in the DNA of the Rizal Commercial Banking Corp. to nurture business and social partnerships on a rock-solid platform of sustainability.
Ranked as the sixth-largest private bank in the Philippines, RCBC is in the best position to help investors, multinationals, conglomerates and the banking public in general to thrive in the Philippine market.
“We are all about building relationships and a sustainable future,” said Helen Yuchengco Dee, chairperson of RCBC.
Over the years, the bank has maintained purposeful relationships with its partners while continuously forging synergies that present viable opportunities. All these while ensuring trade partners and investors benefit from RCBC’s depth of expertise.
For one, RCBC’s firm commitment toward sustainability assures investors that investment proceeds go to green and social projects that will ensure a healthy environment for future generations.
The bank has led, advised and arranged major projects in the Philippines’ power, infrastructure, water and transportation sectors, among others. It has taken the lead as sole lender for a number of landmark transactions, such as the 330-megawatt solar power project of Ayala-led AC Energy in partnership with the BIM Group in Vietnam, which would be the largest solar power project in Southeast Asia upon completion. Another one is The Quang Binh Windfarm in Vietnam with an installed capacity of 210 MW upon completion and featuring turbines with hub heights of 145 meters. The bank was tapped as mandated lead arranger and sole lender.
Furthermore, RCBC’s asset collection process is guided by its Sustainable Finance Framework, which is aligned with recognized green, social and sustainability bond guidelines, green loan principles and the Association of Southeast Asian Nations’ green, social and sustainability bond standards.
RCBC’s sustainable portfolio has moved toward a 70-30 mix in terms of the ratio of the green-to-social portfolio as of the end of 2021, versus a 60-40 mix in 2020. This is indicative of the bank’s stronger support for green projects after it declared that it would no longer fund the construction of new coal power plants from December 2020.
RCBC has also established and maintained tie-ups with other partner banks and financial institutions in other Asian markets, allowing clients to facilitate trade, remittance and other transactions in the Philippines involving their home countries.
In the first half of 2022, consolidated asset size grew by 19% to 1 trillion Philippine pesos ($18.3 billion).
The path toward a sustainable future included a massive digital transformation agenda formed before the pandemic, that clients and other stakeholders have reaped tremendous benefits from.
“To become a formidable player, we must remain a forward-thinking bank that harnesses new technologies to satisfy our customers’ needs for financial health, wealth, trust and security with a new level of online, mobile and omnichannel services,” Dee said.
Among the many groundbreaking solutions the bank has introduced are the Diskartech app, the country’s first financial inclusion superapp, and RCBC Digital, which offers a comprehensive suite of banking solutions.
Using data science and predictive analytics, the bank is able to tailor its products and services to the right segments, boost cross-selling opportunities, mitigate risks and threats to the business, such as money laundering, and create scores for its customers based on their digital footprint or engagement with RCBC.
With all these initiatives, RCBC has won more than 40 digital awards over the past two years. Among them are back-to-back Best Digital Bank accolades from Asiamoney.
“Our strong brand reputation, consistent track record of growth, capabilities, culture and commitment to sustainability allow us to look to the future with confidence,” Dee added.
